Rogers Communications Inc.

12:37 PM EST - Rogers Communications Inc. : Today announced its unaudited financial and operating results for the first quarter ended March 31, 2020. Total revenue decreased by 5% this quarter, largely driven by a 17% decrease in Wireless equipment revenue, as a result of lower subscriber activity surrounding the COVID-19 pandemic, and a 3% decrease in total service revenue. Net income and adjusted net income both decreased this quarter as the stable adjusted EBITDA was offset primarily by higher depreciation and amortization and higher finance costs. Rogers Communications Inc. shares T.RCI.B are trading down $0.95 at $56.49.